KeyCorp initiated coverage on shares of Autodesk (NASDAQ:ADSK) in a report released on Wednesday morning, Benzinga’s Daily Ratings Newsletter reports. The firm issued an overweight rating and a $196.00 target price on the software company’s stock.
Several other equities analysts also recently commented on the stock. TheStreet upgraded shares of Autodesk from a d rating to a c rating in a research note on Thursday, February 28th. Argus upped their price target on shares of Autodesk to $184.00 and gave the company an average rating in a research note on Tuesday, March 5th. They noted that the move was a valuation call. Morgan Stanley downgraded shares of Autodesk from an overweight rating to an equal weight rating and decreased their price target for the company from $160.00 to $150.00 in a research note on Tuesday, January 15th. Atlantic Securities assumed coverage on shares of Autodesk in a research note on Wednesday, January 9th. They issued an overweight rating and a $180.00 price target on the stock. Finally, Wedbush reduced their price objective on shares of Autodesk from $146.00 to $131.00 and set a positive rating on the stock in a research note on Thursday, December 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $171.26.
Shares of NASDAQ:ADSK traded up $0.42 on Wednesday, hitting $170.88. The company had a trading volume of 10,653 shares, compared to its average volume of 2,012,441. Autodesk has a 1-year low of $117.72 and a 1-year high of $169.05. The company has a market cap of $37.42 billion, a P/E ratio of 1,559.36, a P/E/G ratio of 2.48 and a beta of 1.92.
In other news, SVP Fronzo Pascal W. Di sold 11,437 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $166.86, for a total value of $1,908,377.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Anagnost sold 10,023 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $154.67, for a total transaction of $1,550,257.41. The disclosure for this sale can be found here. Insiders sold 48,389 shares of company stock valued at $7,733,483 in the last three months. Company insiders own 0.14% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Autodesk by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,353,539 shares of the software company’s stock valued at $211,299,000 after purchasing an additional 188,022 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Autodesk by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 1,583,153 shares of the software company’s stock worth $247,146,000 after acquiring an additional 13,410 shares during the period. Panagora Asset Management Inc. raised its stake in Autodesk by 50.8% during the third quarter. Panagora Asset Management Inc. now owns 13,799 shares of the software company’s stock worth $2,154,000 after acquiring an additional 4,651 shares during the period. Dimensional Fund Advisors LP grew its position in Autodesk by 9.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 405,687 shares of the software company’s stock worth $63,330,000 after purchasing an additional 35,754 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Autodesk in the 3rd quarter worth about $226,000. Institutional investors and hedge funds own 95.38% of the company’s stock.
Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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